5703 Green Ridge Rd

Roanoke, VA 24019

$184,500D+

3 bd · 1.0 ba · 950 sqft · Built 1971 · SingleFamily · Active · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,540/mo
• Mortgage (P&I): −$968
• Tax + insurance: −$317
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $-68/mo
• Annual: $-820/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.04%
• DSCR: 1.00
• 1% rule: 0.83%
• Cash to close: $51,660

Investor read

• This is a 3-bed/1.0-bath single-family listed at $184k.
• At list price, monthly cash flow is $-68 ($-820/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (16.5% below list).
• It's been on market 60 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (16.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#163 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment D, crime F.
• Roanoke County Public School District (suburban): math 71% / reading 78% proficiency, ranked #9 of 131 in VA (top 7%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Glen Cove Elementary (math 67% / reading 82%, grade A, #220 of 1,108 statewide, top 22%, 407 students, 48% FRL); Northside Middle (math 63% / reading 68%, grade A-, #116 of 342 statewide, top 35%, 627 students, 53% FRL); Northside High (math 80% / reading 87%, grade A, #30 of 319 statewide, top 10%, 950 students, 47% FRL) — zoned schools average 50% FRL vs 22% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 360 units permitted in Roanoke County in 2024 (228 in 5+ unit buildings).
• Roanoke County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.2% in Roanoke — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?